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Jaxon options an additional five strategically located claims in the Flin Flon, Manitoba mineral district

JAX-TSX.V

VANCOUVER, Jan. 23, 2012 /CNW/ - Jaxon Minerals Inc. (the "Company" or
"Jaxon") is pleased to announce that it has added by option, five
mineral claims to the Lucille Lake Block located in the famous Flin
Flon-Snow Lake volcanogenic massive sulphide (VMS) and gold deposit
Greenstone Belt in Manitoba.

Copper Reef Mining Corporation ("CRM"), Flin Flon, Manitoba and Jaxon
have agreed to an Option Agreement on 994 hectares of mineral rights
which brings the area of Jaxon's strategically located Lucille Lake
Block to a total of 2,976 hectares. This property in central Manitoba
is accessible by road and winter trail and is in a region being
actively explored by Callinan Mines, Copper Reef and others. Jaxon
expects to conduct exploration in 2012 on all three of its properties
(October 21, 2011, Jaxon Press Release #11-04) and is making
application for diamond drilling of priority geophysical targets and
mineral showings.

Details of the Option Agreement are as follows:

Cash

Share

Work

Payments

Payments

Commitment

a) On TSX-V Acceptance

$ 10,000

100,000

-

b) 12-month Anniversary of TSX-V Acceptance

-

100,000

$ 50,000

c) 24-month Anniversary of TSX-V Acceptance

-

200,000

$ 100,000

d) 36-month Anniversary of TSX-V Acceptance

-

300,000

$ 200,000

e) 48-month Anniversary of TSX-V Acceptance

-

1,000,000

$ 250,000

Subject to a 2.5% NSR of which 1 percentage point can be purchased by
Jaxon for $1,000,000 or alternatively, at CMR's election, payment of a
$1.00 per ton royalty for ore extracted from the property.

Further to Jaxon's Press Release #11-04, October 21, 2011, the Company
has flown geophysical surveys on the Beatty Lake, Saskatchewan and Snow
Lake, Manitoba properties; preliminary encouraging results merit
continuation of the option agreements.

The Option Agreement is subject to TSX-Venture Exchange regulatory
acceptance.

ON BEHALF OF THE BOARD OF DIRECTORS
JAXON MINERALS INC.

"Leif Smither"

Leif Smither, Director

This news release may contain forward-looking information which is not
comprised of historical facts. Forward-looking information involves
risks, uncertainties and other factors that could cause actual events,
results, performance, prospects and opportunities to differ materially
from those expressed or implied by such forward-looking information.
Forward looking information in this news release may include, but is
not limited to, the Company's objectives, goals or future plans.
Factors that could cause actual results to differ materially from such
forward-looking information include, but are not limited to, those
risks set out in the Company's public documents filed on SEDAR.
Although the Company believes that the assumptions and factors used in
preparing the forward-looking information in this news release are
reasonable, undue reliance should not be placed on such information,
which only applies as of the date of this news release, and no
assurance can be given that such events will occur in the disclosed
time frames or at all. The Company disclaims any intention or
obligation to update or revise any forward-looking information, whether
as a result of new information, future events or otherwise, other than
as required by law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.